By Wendy Van Sickle
Columbus, Ohio, April 7 – Richa Industries Ltd. issued on Friday Rs. 90 million of 13.05% unlisted secured redeemable nonconvertible debentures maturing in 2020, according to a notice with the Bombay Stock Exchange.
Half of the principal amount of the debentures have a scheduled redemption date of April 8, 2020 and the other half of June 12, 2020.
The issuance was initially discussed by the company’s board of directors on April 1, and the terms of the issuance were subsequently renegotiated.
The debentures were issued by private placement.
Richa Industries is a manufacturer focusing on the pre-engineered building, engineering procurement construction, and textile sectors. Its headquarters are in Faridabad, India.
| Issuer: | Richa Industries Ltd.
|
| Issue: | Unlisted secured redeemable nonconvertible debentures
|
| Amount: | Rs. 90 million
|
| Maturity: | April 8, 2020 for 50% of issue, June 12, 2020 for remainder
|
| Coupon: | 13.05%
|
| Allotment date: | April 7
|
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